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[barnett]

I'm in contract on a residential property. 50 percent of the disclosure statement filled out by the seller was marked as "no representation." Through investigation I have uncovered many "big ticket" issues that add to multiple thousands of dollars. The seller has hired and fired many realtors over a 2 year period. I may have to walk away from this transaction even though I have hundreds of dollers invested with inspections and 160 hours in research.

My concern is this: what's to stop the seller from firing his realtor (now obligated by law to disclose my findings to future interested parties) and hire another realtor who who is not legally bound to disclose known information? Is there an oversight board or a database that would contain this information and effectively forwarn potential buyers of these issues that the seller is knowledgeable of?

[aingeni]

"is not legally bound to disclose known information?"

who ever is talking to you knows nothing about real estate law.

I do

all RE agents must disclose what they discover about a property that
is not already disclosed in the MLS listing.

To solve this problem for the seller, he is entitled to say--if it is true,--
no knowledge of"

if it is found he hid data on this, all money put down on the property
can be refunded and in some cases, the seller would have to refund
the buyer's hring of an inspector.

so, the term "over sight board"-is covered by real estate disclosure law.

how else may I help you?